If you’re suffering from lack of money to invest in your business, this is a trap that a lot of small business get stuck in – its a vicious circle.

It starts by thinking that because your business is new, or small, you need to keep your prices low or you won’t get any business.

This generally isn’t true because most people buy on value, not price, but it can lead to getting stuck on a treadmill.

Lenka works in a very competitive field but took the decision to price her services so that she could afford help. She says:

“I’ve never regretted that decision. It means that I have to sacrifice a bit of my own income to pay someone else, but I wouldn’t have it any other way now. Having a network of trusted service providers, freelancers with specific skills and partners is really important for business growth. If it’s only you in your business, you’ll soon reach the limit of your time, energy, skills and other resources. Partnering with other people will allow you to do more and grow quicker!”

Maybe the reason you don’t hire other people is because you don’t believe anyone can do the job as well as you?

This is about finding the right people and building trust. As Lenka says:

“At the beginning I started outsourcing things that I had no idea how to do, so letting go was easy. It was a relief not to have to deal with it, learn it, waste my time on it. Later on, when I started outsourcing some of my tasks, it was more difficult to let go and fully trust the other person to do a great job (on my own quality standard). But it’s all about communication!

If your business is barely making enough to pay you, all you’ve done is create a job (a badly paid job), and not a business.

If you’re stuck in the vicious circle of not knowing how to grow your business, let me know and I’ll help you break free!

Thanks to Lenka Koppova for being my Inspirational Entrepreneur this week!